In the case where we have done an extension on a loan which has matured while waiting for a refinance to be processed, and the customer continues to makes escrow payments, can those be posted to the escrow account and can we continue to pay anything out of the account during this time? It has come to my attention that our operations department has been accepting these payments and making payments out of the account manually in these situations.

You are accepting payments into an escrow account and want to know if you are prohibited from making payments out of that account? Why would you not?

I'm trying to research if we are allowed to allocate payments to an escrow account in situations where the loan has reached maturity but a refinance has not been completely processed yet.

Question for your legal counsel.

That's what I'm thinking. Thank you.